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20130224
Search Results 0 to 28 of about 29 (some duplicates have been removed)
cuts. does the economy have enough kick in it to withstand the sequester? and a big win for activist investor david einhorn in his fight to get apple to share the wealth, with its shareholders. that and more tonight on "n.b.r."! if you get a paycheck, no doubt you have seen it shrink this year. higher payroll taxes have taken 2% out of working americans take home pay. at the same time, gasoline prices have been rising and fast. together, this cuts into the spending power of consumers, and that's bad news for a host of companies, from restaurants to retailers. erika miller reports on how some of these firms are trying to fight back against the pay pinch. >> reporter: virtually every worker in america is taking home 2% less in pay this year because of higher payroll taxes. that's not just bad for consumers, it's also bad for businesses. three out of four households are cutting spending to cope with lower pay. for one out of three households, it means eating out less. consumers are also changing where they dine. >> we are moving from casual dining, down to fast casual, down to the fast
back spending. prices at the pump are up nearly $0.50 in a month. >> we are a driving economy. most people drive to their place of work. and so they've got sort of a secondary tax, in addition to the payroll tax increase that they've experienced as well. >> reporter: wal-mart is adjusting by stocking its shelves with lower-priced items, and smaller sized packages. retailers fear the pressure on consumers could get worse if a trillion dollars in across-the- board government spending cuts hit march first. that would be right at the start of the spring selling season. >> i think we will see promotional activity and markdowns become more commonplace. i think the key takeaway here is that we could be looking at a very difficult time for retailers to be raising profitability and expanding margins in this environment. but even in a tough environment there will be some winners. in the retail and restaurant categories, hottovy sees two firms that could thrive: >> our top picks are costco and amazon. we think that they will be key beneficiaries of either a trade out or a trade down among cons
the economy, by buying government bonds. >> susie: i'm susie gharib. can two weaklings become strong by teaming up. that's what office depot and office max are hoping for, as they decide to merge. >> tom: and a mixed picture on housing, contractors break ground on more single family homes, but pull back on building apartments and condos. >> susie: that and more tonight on "n.b.r."! how much longer should the federal reserve continue to stimulate the economy? that question was intensely debated at the central bank's policy meeting in january according to the minutes released today. stocks sold off on that news, as investors worry the fed might taper off its stimulus program, sooner than expected, and before its goal of seeing a big pick up in the job market. the fed has been buying $85 billion of mortgage backed securities and treasuries every month to pump up the economy. here's what those fed minutes revealed: "many" policymakers voiced concerns about "potential costs and risks" from more bond buying. others said that the easy-money policies might encourage "excessive risk-taking" a
and central bankers from the world's biggest economies meet to debate spending cuts versus growth. we look at international investing and pockets of strength around the globe. and, hedge fund manager carl icahn ups his stake in herbalife, calling the vitamin maker a legit business. that and more tonight on "n.b.r." investors spent much of this week focused on the u.s. market with major market indexes hitting five-year highs. but now the spotlight is shifting overseas. g-20 finance ministers and central bankers are meeting in moscow over the weekend. they will be debating the need for austerity, versus the need to spur growth. no one expects a quick turnaround for the european economy, which has been mired in recession. but as erika miller reports, that may make now a good time to invest. >> reporter: it would makes sense that american investors would be loading up on u.s. stocks with the market here doing so well. but they're not. last week, investors in stock mutual funds put virtually all their cash in international markets. more than $3 billion went into funds holding international stoc
for the economy following a tough recession. darren gersh, "n.b.r.," washington. >> susie: joe davis joins us now, he's chief economist at vanguard, the giant mutual fund company. >> susie: joe, nice to have you with us on this important day. let me start by asking you, do you think the fed is taking on too much risk? >> i think there is an argument that can be made. we've had a concern for more than a year that there are both costs as well as benefits with respect to very aggressive monetary policy. and just some of the behavior we've seen in the financial markets. i know the report talked about excessive risk-taking. so i've had a concern that those costs associated with monetary policy may not have been given the sort of credence they should have been. so a positive development, in my mind, to today's minutes it was that federal reserve policy-makers were more aggressively talking about both the pros and cons wreaptwith respect to aggressive monetary policy. >> susie: one thing we've been hearing repeatedly from the federal reserve is they're not going to make any change in this policy, raisin
is starting to return. >> reporter: sure, the u.s. economy may be outperforming most other developed nations. but some investment strategists see good opportunities in the weakest parts the world like europe. >> although growth is still negative, we do believe that this year will be that tipping point where growth returns positive. and things are getting progressively just a little less bad. >> reporter: he recommends buying the stocks of big european companies that get much of their revenues outside the region. >> you've got a lot of companies based in these countries which sell to the emerging markets and that growing consumer within the emerging markets. i think you're seeing a lot of >> reporter: but others have a country specific approach. wells fargo advisors has norway as a top pick. >> not only is it a country with relatively low debt and a good credit standing, but it's also a country that's the 15th largest oil exporter in the world. and we think oil prices will continue to edge higher here. >> reporter: but, remember, even if you just buy stocks of big american companies, you like
a vote of confidence for the stock market, but she worries about long-term ramifications for the economy. >> i'm not so sure how much consolidation is actually good because that to me actually means job losses at the administrative level, factory level and even c.e.o. level. so-- i'm not that worried about the c.e.o.s, but still. >> reporter: this year, as m&a activity heats up, stocks have resisted a much talked about correction. the dow, s&p 500 and nasdaq are all up a healthy amount. investment pro sam stovall says if the majority of deals are cash, as many have been in 2013, it suggests the m&a cycle is just getting started. >> it's later in the cycle when a lot of m&a activity takes place where it's purchased for stock. then companies are basically saying, "we think our stock is overvalued, let's use it while we can to buy the competition." >> reporter: there may be a lot more corporate marriages in the months ahead, but stovall says the stock market still needs to digest its recent gains. >> i think that we could end up seeing a relatively mild correction in prices, something on th
.s. economy is not adding jobs, the claims for uninsurance benefits up pas past-- combined with continued worries about economic growth lead the major stroke averages lower within the s&p 500 off by 9.5. >> susie: stocks weren't the only investments falling today. many commodities also ended lower, on top of steep declines yesterday. u.s. oil futures fell to there lowest point this year, closing at $92.84 a barrel. so what's at the root of the commodities sell-off, a will it continue? erika miller reports. >> reporter: selling was heavy in crude oil today, as it was in most commodities. but crude also fell on new inventory data showing a big jump in oil supplies. >> today we had an inventory number which came out, which we were expecting a build of around two million barrels. we got a build of around four million barrels. >> reporter: across the room, gold futures were little changed. although industrial metals like platinum and palladium got slammed. grain prices also plunged, with wheat hitting an eight-month low today. the thomson reuters-jefferies c.r.b. index, a global commodities be
Search Results 0 to 28 of about 29 (some duplicates have been removed)